PROPTECH SPOTLIGHT: Home Energy Efficiency - Exclusive Member Update

Regulatory Pathway and New Commercial Opportunities

Proptech Australia held a member-exclusive webinar on September 9 covering the regulatory pathway to achieving home energy efficiency.

Hosted by Proptech Australia President Kylie Davis and presented by industry leader Cecille Weldon, this briefing was in response to member questions on how to leverage commercial opportunities from the legislative changes.

The webinar is relevant to proptechs who are involved in buying, renting, selling, managing and financing residential property.

The update covered the following:

• New Commercial Opportunities: Learn how to take advantage of emerging technology standards for residential energy efficiency.

• Home Energy Property Ratings: Get an update from the Residential Energy Efficiency Disclosure Initiative (REEDI) Forum.

• Proptech Energy Efficiency (EE) Features Standard: An update on Proptech Australia’s new industry-led data standard and what it means for you.

• Translating Government Announcements: Get an easy-to-understand explanation of the new energy efficiency compliance requirements for new homes.

Our presenter Cecille Weldon, a former director of Proptech Australia, said: “This update will cover progress on single dwelling home energy ratings, the real estate training pilots progressing in NSW and an update on NatHERS Home Energy Rating Assessment Pilots.”

Transcript:

Kylie Davis: I’m Kylie Davis, president of the PropTech Australia. I keep going to say the PropTech Association, and I am here, just a quick acknowledgement of country. I am here on Wangal Country, on the edge of the Parramatta River, on, in…

Kylie Davis: Sydney, and the right, and…

Kylie Davis: PropTech Australia acknowledges the traditional owners of the land and welcomes elders past, present, and emerging.

Kylie Davis: We are really honoured today to have Cecile Weldon as, presenting to us, on energy efficiency and the new Homes Rating Energy Scheme. She has done an enormous amount of work on behalf of PropTech Australia members.

Kylie Davis: And this is one of the biggest things happening in prop tech at the moment. We have a choice as an industry that we can be disparate and just chase opportunity individually, or we can come together behind a consistent data set that is extraordinarily empowering and will save all of our businesses a hell of a lot of time.

Kylie Davis: And, resource.

Kylie Davis: So, Cecile, I'm going to hand over to you. I'm really looking forward to this briefing. I will jump off camera. And if anyone's got questions during it, please pop them into the chat.

Kylie Davis: I will interrupt Cecile from time to time if we think there's something that, needs to be addressed, or is,

Kylie Davis: Is coming up as we go. So, great to see so many people on the call. We will,

Kylie Davis: Over to you, Cecile.

Cecille Weldon: Hi, everyone. I'm excited to bring you this update, and I'm… I'm aware that everyone in our PropTech membership spans all sorts of different property touchpoints. And so, from the big data side of things, you want crap loads of data and lots of granular information. From the listing portals, you just want things that are going to make a property shine.

Cecille Weldon: From the energy efficiency side, you feel as though you've got it all going on and know everything, but what we have to do in this space… but there's lots of convergence that needs to happen so that everyone understands from the energy efficiency space what happens when you enter the property marketing system. And from the property marketing world, what happens when a whole bunch of new features that are going to change the game enter

Cecille Weldon: The ecosystem. And so, hopefully, I've got the right mix for everybody. So, some people may already know a lot of the terminology that I'm dealing with, but we really need to get everyone up to speed, or we're running a bit of a two-speed economy here in our membership group.

Cecille Weldon: So, this is a member briefing, so it's exclusive to PropTech members, and what it represents is a lot of advocacy I've been doing on the… in the Reedy Forum, as well as the New South Wales Government Trials, on behalf of members and, the association.

Cecille Weldon: And so, it provides, hopefully some updates, so we're going to give you a progress report about how things are going, because it's been a long journey to develop the regulatory pathway, and also have a look at opportunities, and also provide some clarification, because many members have reached out

Cecille Weldon: Sometimes every time there's a government announcement around energy efficiency or the word matters, and everyone thinks, oh, is that that? What does that mean? So hopefully, everyone can really get up to speed in the sort of narrative and the acronyms and things like that. So I'll begin with that.

Cecille Weldon: So, overview. As a nation, we're transitioning to a new framework of value and risk. So, previously, the way property was valued, the way property's attractiveness was often measured, was retrospective and comparative, based on what sold yesterday down the road.

Cecille Weldon: This is a huge shift where we're being future-focused, and we're looking at a risk and reward.

Cecille Weldon: Lever in terms of, property values. So this is a very big change. We're used to always looking backwards as a sector. Now we need to be able to look forward in readiness.

Cecille Weldon: And it's not a nice-to-have, and it's not about just waiting for regulation to come. As an industry, we need to act now to be able to encompass that new lens on property.

Cecille Weldon: Because every touchpoint in the property life cycle will be impacted. I'm not going to go into the five key market drivers here, because this is about an update to members.

Cecille Weldon: Basically, the need, the pressure to identify the potential running cost and comfort of a home and apartment over our… over 11 million of our existing homes is catalyzing a demand for much more comprehensive property data.

Cecille Weldon: Property attributes in the residential space. And this is…

Cecille Weldon: It sort of coalesces into three big opportunities for the industry. One is energy efficiency features. What are the right ones, and what are they called? And what is a key set that I can integrate that will keep me on a very steady track towards everything that's going to go on?

Cecille Weldon: The other is home energy ratings. Now, I'm aware that there are a lot of white-labeled and prop tech solutions. What I'm talking… are already in the market, and these are going to grow, but what I'm talking about here is they're verified, government-backed.

Cecille Weldon: Home energy ratings that are going to form part of the regulatory framework at point of sale or rent. And then we've got the energy efficiency property upgrade. So I suppose if you were to put it that very simply, you'd say over the next 10 years, there's going to be a renovation revolution in Australia's existing homes, and there should also be, parallel to that.

Cecille Weldon: A wholesale upgrade of every property professional in terms of their knowledge about property.

Cecille Weldon: So currently, your customers, your B2B customers, have zero knowledge about property, about these particular features of property, so…

Cecille Weldon: Parallel to every opportunity I'm going to talk to you is the opportunity to actually help them understand and upskill.

Cecille Weldon: On these energy efficiency features. And so, visibility and clarity about these features is going to, on a subliminal sense, do that, but really you need to take the leadership position here to enable them to really catalyze the whole of sector opportunities.

Cecille Weldon: What we're going to cover today, we're going to go through… I'm going to try and talk fast, but not too fast. We're going to run through some terminology, really look at the assessment software and what everyone's using, what will be… form the regulatory framework, the key policy document that's just been released that you need to know about, and a little bit of a

Cecille Weldon: a sort of snapshot of the pages in that that I think would encourage you to lean into.

Cecille Weldon: The stakeholder benefits overview, because framing the opportunity is very important, to this moment in history. An overview and update of the home energy ratings for all homes, the forthcoming regulation.

Cecille Weldon: As well as our own industry-led PropTech Energy Efficiency Features Standard, we're going to go into the NATAs for existing home trials, what that means.

Cecille Weldon: What Home Energy Rating Certificate is looking like for that trial, and what the symbols mean, the New South Wales real estate pilots, how they're going on, and how the two leaders work together, features and ratings. So we've got a lot to get… look, if we don't get through it all, maybe we can have a second session, but I'm hoping I'll get through everything.

Cecille Weldon: So, first of all, I just really want to talk about how we frame

Cecille Weldon: This… this opportunity, depending on our touchpoint. Because unlike other things that have happened in property, this… these energy efficiency features and a home energy rating, or the energy efficiency potential of a property.

Cecille Weldon: Benefit multiple stakeholders, but each one of them talks about it in a different way. So, if you're using a framing for one sector, and you're pivoting that into another sector, it will not resonate. And you will say, oh, there is no market here. So, as everyone knows, my background's in,

Cecille Weldon: You know, sociolinguistics, so the message framing is key, and a lot of what I've done in this sector is about really nuancing that message. I'm going to give you an example.

Cecille Weldon: For the home occupant, these deliver a more comfortable home all year round and less running costs. For the owner, it's a more attractive property that they end up with, and that's a key driver for capitalization and return, whether they're an owner or an investor.

Cecille Weldon: For finance, lending, and investment, it's a property that delivers less risk, which is a key driver for climate adaptation and readiness. For states and territories, it's about cost of living relief. So, these features are a key driver for health, financial relief, climate extremes and safety.

Cecille Weldon: For the nation, the narrative is around energy productivity. So that is a key driver for productivity in general. That's about getting more out of every piece of energy we use. And for the environment, obviously, it's less impact. So that's a key driver for the pathway towards net zero.

Cecille Weldon: Now, if you're using the environmental narrative to a homeowner and occupant, it's not going to resonate unless they self-identify as a true believer.

Cecille Weldon: And sustainability. So what I want you to be aware of is, if you're not getting a feedback loop that is saying, yes, this is what people want, it may be the way you're framing the opportunity. In the past, these features have gone out with the big item of sustainability, and unfortunately, that is almost misrepresented

Cecille Weldon: the… the… what these features can deliver, because it has not let everyone know about the occupant benefits in terms of comfort and reduced energy costs, and reduced energy bills. And so, what you're going to see in a lot of the government narrative is consumer engagement that is leading with comfort.

Cecille Weldon: Because comfort is the key driver for decision-making in upgrading homes, and we've never been able to identify what the features were that delivered comfort. As a sector, we're always hiding uncomfortable homes, not showcasing comfortable homes, and this is a very big shift in the way we do stuff around here.

Cecille Weldon: So, let's just talk about some, understanding the software that's going to be doing the assessment, and what the coverage is for each of these.

Cecille Weldon: The terminology in the screen… and the schemes, you may hear NATAs.

Cecille Weldon: Doesn't mean anything. Natters or neighbours.

Cecille Weldon: Okay, I really need to sort of unpack a little bit for it. Both of these are government-backed schemes with national coverage that include professional training and accreditation for assessors. So the reason,

Cecille Weldon: These schemes have been in place for a long time, and each one of them is going to be used in a different way. So, I'm just going to run through

Cecille Weldon: You have Natchez for new homes.

Cecille Weldon: And that is at the design stage of a new home, right? So it's a desktop, analysis of a design used by architects,

Cecille Weldon: and building designers, and that directly aligns to the National Construction Code and our energy efficiency compliance standards.

Cecille Weldon: So, we have a national standard that everyone has to meet for new home designs or large renovations.

Cecille Weldon: The standard, the National Construction Code, is updated every few years. You may have heard an announcement recently saying that the government is going to pause

Cecille Weldon: The energy efficiency standards. This is in relation to this moment, okay? This particular piece, which is for new home designs. And what they're going to do is they're pausing it for 12 months.

Cecille Weldon: Okay, so the last data was up in 2022. That became live in around May 2023, some states October 23, and so they're saying, we just want to pause 12 months.

Cecille Weldon: Okay, I'm going to explain what that means in terms of the star rating. So what's important to understand is this has been going on since 2005 in our new home designs, and what that means is a lot of our existing homes already have a lot of these features, because energy efficiency compliance has been going since

Cecille Weldon: 2005.

Cecille Weldon: But it's important to say, is it NATAs for new homes, or NATAs for existing homes? So if you see NATAs for new homes, it's at the design stage.

Cecille Weldon: How is it assessed? It's a desktop analysis using the software, and that ensures that it meets the current compliance standard for new home designs is 7 out of 10 stars.

Cecille Weldon: The sweet spot in terms of a value uplift is around 6 to 7 stars, and 7 to 8 stars.

Cecille Weldon: About 9.4%. So, in value uplift. So, this really does make a difference. A lot of people in the new home development space and the design prop techs are seeing this as compliance, and they're not seeing them as showcase features.

Cecille Weldon: Okay, so just realize what you're doing for compliance now is also delivering a more attractive property at point of sale or rent.

Cecille Weldon: The other piece, is… oh, sorry, we've lost the… okay, the other one is, and that is for existing homes, and this is what's being proposed at point of sale or rent for regulation. The idea is that when a home is ready to be sold, the owner will need to obtain a home energy rating assessment.

Cecille Weldon: It'll be delivered during a home visit by a qualified NATO's assessor. So a real estate agent can't do it unless they've been upskilled as a NATA's assessor.

Cecille Weldon: The software generates a home energy rating certificate, which includes upgrade advice on the back of that certificate. It assesses the energy performance of the building shell, the energy appliances, and energy generation. In terms of operationalizing this, you need to think in terms of just another type of building inspection.

Cecille Weldon: So…

Cecille Weldon: What does it assess? This is very important to put to mind. A NATA's for existing home is going to be assessing a single dwelling.

Cecille Weldon: We mean a detached or stand-alone house, or one of a group of attached dwellings, like a townhouse, as well as an individual apartment.

Cecille Weldon: So the same software in the regulatory framework document, which is working out how this is all going to happen, that is what is currently planned.

Cecille Weldon: For the use of the NATAs for existing homes.

Cecille Weldon: Now, neighbours for Apartments is also going to be used, and what neighbours for Apartments does, it quantifies a building's energy and water performance. It goes by a rating from 1 to 6 stars, and it's only identifying the common area.

Cecille Weldon: Okay, so NATAs for existing homes is for the individual apartment, and neighbors for apartments is for the common area.

Cecille Weldon: So, it's done by an accredited…

Kylie Davis: Quick question, Cecile. Why is it out of 6 stars when everything else is out of 10?

Cecille Weldon: It's just a diff… it's just a different framework, and it's looking at different things. Neighbours for Apartment looks at water as well, and it uses 12 months' worth of historical data on what you've actually

Cecille Weldon: Pay for. So, it's a slightly different way of looking at energy, but what… but it's specifically related to the common area.

Cecille Weldon: So, when, in terms of the process, you, get quotes from an accredited neighbours assessor, you make sure that the owner's corporation signs off, and you get the common area, assessed, and then every 12 months, you can work towards making that more efficient. Now, the most important thing for you to know here

Cecille Weldon: Is it is only going to relate to mid-rise, high-rise, and super-rise apartment buildings. The majority of Australia's apartment stock is low-rise.

Cecille Weldon: Okay? Now, the reason why…

Cecille Weldon: Assessing the common area of an apartment is incredibly important is because 60% of the energy bills

Cecille Weldon: Are coming from the common area usage of those size apartment blocks.

Cecille Weldon: Now, this is the only software assessment framing that is completely novel for us as a sector, because we do not distinguish between the common area of apartment in a property listing and an individual apartment. We only sell the individual apartment.

Cecille Weldon: So, what I would encourage everyone to understand… to do, to look at, to have on their build

Cecille Weldon: Idea is.

Cecille Weldon: What is the definition of mid-rise, high-rise, super-rise? And that's what I'm working on, so that I can say to members what that definition is.

Cecille Weldon: Currently in the Australian Census, it says.

Cecille Weldon: More than 20 apartments, but you're not allowed to use the number of apartments as the determinant, so that's a bit strange. That's coming, but what I would say is everything that's coming down the line is changing the way we're going to have to look at property in terms of those individual data sets.

Cecille Weldon: So this is the one that we are not ready for and cannot easily put in place, because we don't see the common area, and we don't sell the benefits of the common area in terms of running cost.

Cecille Weldon: At the same time as the individual apartment.

Cecille Weldon: So just be aware of this. This is just, sort of be alert and aware.

Cecille Weldon: So, now I'm just going to tell you about a key policy document that's recent been released over the last couple of weeks.

Cecille Weldon: This is called the Update to the trajectory for Low Energy Buildings, and this document, the first version, was done in 2019, and then there were a number of addendums, and now this has been fully updated.

Cecille Weldon: It's much more climate, narrative in the way it's framed, but what is important about this is you can see on the front cover there, it's the, it's the energy… it's all the energy ministers working together.

Cecille Weldon: So… All the lev… all levels of politics.

Cecille Weldon: Are in violent agreement, if you like, about this particular document, and have all been working in the background for many years.

Cecille Weldon: About the progress. Some governments give more money and it works faster than other political parties, but it's been a steady work because low-energy buildings are a key measure of energy productivity, which we need for productivity as a nation.

Cecille Weldon: So I'm going to pull out a couple of pieces in this document, because this document represents the scope of work for us as a nation, and home energy ratings are inside that.

Cecille Weldon: But it's important that we as a sector understand the breadth of this scope of work.

Cecille Weldon: There are… Get rid of… let me see if I can get rid of that. Okay.

Cecille Weldon: The work has five objectives, and this has been reframed. Reduce the energy costs for households and businesses, so you can understand that trigger is directly into property.

Cecille Weldon: Drive emissions towards net zero, reduce and manage demand on the grid, keep people healthy, comfortable, and safe from climate hazards, and ensure equitable access to energy performance benefits.

Cecille Weldon: Hmm…

Cecille Weldon: Okay, it's not going to the next slide. There we are. This is the scope of work for existing buildings.

Cecille Weldon: I hope… can everyone see that okay? I hope you can read it. There's ratings and disclosure.

Cecille Weldon: So,

Cecille Weldon: You can see the scope of work there. I won't run through it, but that's why I encourage you to look at that document. You can see how this is not going away.

Cecille Weldon: And the more ready we are, the less friction there's going to be as we completely adapt and integrate this new view of property. You can see, establish and analyse a database of existing homes. There's going to be lots of data.

Cecille Weldon: Publicly de-identified. A lot of the data that will be available, that is available currently, does not go down further than 10 properties, so you cannot go to an individual property. The lowest you can go in terms of data is 10 properties.

Cecille Weldon: You can see improve apartment building energy ratings through NATA's and Neighbours tools, the things I was just speaking about, and implement disclosure schemes. You've got minimum standards

Cecille Weldon: And for anyone in the property management space, energy efficiency, minimal standards for rental.

Cecille Weldon: Housing homes are coming. A number of states, Victoria, ACT, have already got them on board, and other states are working on them.

Cecille Weldon: There's an opportunity to become ready for that, which I'll go into. Strength and renovation requirements.

Cecille Weldon: Everything is about that property upgrade, and unusually, there's crap loads of finance going to flow into the sector to look at this, and a lot of the smart prop techs are providing a

Cecille Weldon: A sort of…

Cecille Weldon: A sort of, integrated prop tech, fintech solution for this. So, prop tech, fintech, PropTech, RegTech, PropTech, EdTech is really the way that we're going to completely leverage all the opportunities that are available, that are coming down the line.

Cecille Weldon: Workforce and resources. In order to scale up all of these assessments, and accelerate everything, there's going to be, lots of skills

Cecille Weldon: Benefits and lots of skills, stimulus, as well as the energy efficiency appliance rating that at the moment is,

Cecille Weldon: You know, is attached to a particular amount of appliances. This is going to be expanded, particularly around heat pump or water systems and things like that that are really key, and that's going to make a difference because it's very confusing for consumers in the marketplace. So all of these things.

Cecille Weldon: They're going to come in as a baseline to remove those barriers and take away complexity and make it simple.

Cecille Weldon: So, everyone needs to upgrade, but there's a crap load of, support, financially and otherwise, to make that happen. We…

Cecille Weldon: Stand to be the big winner, because

Cecille Weldon: As a sector, as well as our customers, are going to be the key delivery partners for this whole new narrative. So, kicking it down… kicking the can down the road is just not smart, because there's many opportunities to become ready.

Cecille Weldon: And then there's research, and lots of money going towards research, and I'm going to talk about that, especially, I'd note, around the complexity of strata title buildings.

Cecille Weldon: Because some things you can't upgrade without that owner's corporation sign-off, and so there's going to be a lot of streamlining of regulation, which are very complex and messy, as everyone in the strata prop tech knows.

Cecille Weldon: New builds, update… there's going to be updates, to the construction code. They will still happen, they'll just be at a slower time frame.

Cecille Weldon: And all sorts of things around stimulating, finance again, tools and resources, and carbon, and embodied carbon ratings are going to start to come into the narrative, for new bills.

Cecille Weldon: I won't go through all of the detail of that, but you can see that it's in that document.

Cecille Weldon: Now, I've just pulled out a couple of work orders, that are within this big low-energy building, document.

Cecille Weldon: Energy efficiency, simple improvement to Australia's buildings can save money, improve health and comfort, and reduce demand on the electricity grid.

Cecille Weldon: Renovators… renovating Australia's existing buildings will be pivotal for a low-energy, low-carbon future. So, you have to understand, if your prop tech hasn't… isn't empowering your agents to replace life with energy efficient in whatever they're doing, it's not fit for purpose. It's going to be a

Cecille Weldon: Simple as that. The other thing is fuel switching and electrification, is there are now various jurisdictions that are looking at electrification as a baseline. Victoria's always already gone out and made some key statements around that, because they're actually running out of gas.

Cecille Weldon: Resilience, ensuring buildings are resilient against future climate risk, is critical to ensure the comfort and health of Australians in the built environment. And remember, resilience isn't just flood and extreme weathers, it's also climate adaptation, so the ability for our properties to be more comfortable in seasonal climate changes, as well as climate extremes.

Cecille Weldon: And then there's green finance. So it's the new finance disclosure requirements that, if you're at the end of somebody's supply chain, especially, you know, you want to be looking at, there's…

Cecille Weldon: The pressure around climate reporting is driving the financial,

Cecille Weldon: And lending sector to go hard, and to really be hungry for data and transparency around, the climate risk of their loan book.

Cecille Weldon: And I predict, this is a Cecile prediction, that will flow into, rent rolls as well.

Cecille Weldon: So… this…

Cecille Weldon: Is the summary of what's going on. You've got target building policies that are deliberately designed to overcome market barriers, and some of those market barriers are us, I have to say. So, if we…

Cecille Weldon: Start to become more agile and more future-focused, and start looking at property in a new lens, we're going to be ahead of any regulation. But we'll be aligning to it, whatever happens. There's going to be enabling mechanisms, providing the right foundations.

Cecille Weldon: For improvement to support those building policies, and there's going to be supporting measures to enable a least cost transition, and those supporting measures are coming in for the real estate sector.

Cecille Weldon: And I'm going to talk about some of those trials.

Cecille Weldon: So now I'm just going to move on to Reedy. So, Residential Energy Efficiency Disclosure Initiative Forum. So these are… this is a group of the states and territories, the Commonwealth Government representatives, and representatives from 26

Cecille Weldon: I think it's now 35, peak bodies and organisations in Australia, and the PropTech Association has a seat at the table, which I represent.

Cecille Weldon: And so this has been working, consistently on developing the framework

Cecille Weldon: To be able to provide home energy ratings for all homes at point of sale or rent. And we have had a significant influence in, how this is unraveling. For a start, they didn't even know we existed as a sector, and now we've been identified as a key stakeholder.

Cecille Weldon: So this is, really important. This is another document that you should already know about, but if you don't, for goodness sake, you need to look at this. This was in 2024, this was a result of the Reedy Forum. The document, very…

Cecille Weldon: Deep dive document was how, as a nation, are we going to disclose energy ratings at point of sale or rent? How are we going to actually do it, and what it might look like?

Cecille Weldon: Now, that document, once that was released, then, it's now going to be updated on an iterative basis, based on feedback from the pilots and research that are going on, pressure testing the assumptions in this document.

Cecille Weldon: But it's important for somebody in your organization to have a lens over that, and to understand. We are mentioned as a sector in that, and also our PropTech Energy Efficiency Feature Standard is identified in that as a key market enablement.

Cecille Weldon: The key points.

Cecille Weldon: Once again, all the states and territories are working together. It's going to be a harmonized plan, which includes an operational pathway to deliver a verified home energy rating for all homes on the market. Pilot has begun to refine that process engagement and the support that's going to be needed.

Cecille Weldon: And it's important to know that each… it's a harmonized plan, but every state and territory will activate it at a time that's right for them. But what's important for everyone to understand is that we're all heading in the same direction, okay?

Cecille Weldon: So, as I said before, when you're ready to sell your property, the agent will ask,

Cecille Weldon: We need to have a home energy rating done, would you like to book it, or would you like me to book it? Here's a link. The home energy, the NADAS qualified assessor, with their identification card so that you can check, comes to the home, probably takes a couple of hours.

Cecille Weldon: And walks through the home, using software, generates the energy rating certificate, which, remember, includes the upgrade recommendations. That rating, I'm going to talk about the symbols on that certificate, will be displayed in advertising, and most likely in the contract too, but this nuance is…

Cecille Weldon: still being worked out, but definitely in advertising. And some of you on the line have already been operational… looking at how that gets operationalized, and certainly in the PropTech Energy Efficiency Features Standard, we have that as a placeholder, so everybody can have readiness for that.

Cecille Weldon: Oops.

Cecille Weldon: I just want to talk about what the symbols mean, because sometimes some of it's intuitive and some of it is not. On the certificate, there's a combined symbol that you can see there. The top part of that is a star rating, and that represents

Cecille Weldon: Really how good the building shell is of that property to adapt to heating and cooling needs. So that looks at the local climate the home's in, the design and materials and construction of the shell itself.

Cecille Weldon: And then you've got a home energy rating, and that's out of 100. That's the green bar there. And that's based on

Cecille Weldon: How that shell combines with all the fixed appliances and on-site solar generation and storage. And that considers how much energy will be used when you use those heating and cooling appliances, hot water systems, lighting, pools, spa equipment.

Cecille Weldon: To deliver a score. Now, if you imagine if that property is balanced in terms of energy, so the demands for the appliances exactly meets how much energy is generated, it will have a score of 100 out of 100.

Cecille Weldon: Okay, most homes, I think, in Australia are likely to get around the 40 to 60 mark.

Cecille Weldon: There's this other little bar, which is pretty cool. I actually think it's more interesting than everything else, but that's just a seal, and that's the home's comfort. And it uses that, intelligence to be able to say, you know what, this house is going to need heating 54% of the time.

Cecille Weldon: 44% of the time, it's pretty comfortable, and 2% of the time, it's going to need some cooling. This was obviously from a cold climate rating here.

Cecille Weldon: But it's sort of almost like, what's the sweet spot for comfort in this property? And you can see this narrative of comfort and the value proposition of comfort starts to enter even

Cecille Weldon: into this whole idea of a home energy rating. So I'm going to show you a draft of the certificate which is being used currently in the pilots. It doesn't mean it's going to be the final one, but I want you guys to have a look and understand what it looks like.

Cecille Weldon: This is the front.

Cecille Weldon: So you can see, there's the address, there's a QR code where somebody could go in and get much more granular detail. You can see the appliance energy use is in the green, that's everything that that score out of 100 relates to. The building details, you can see all of the shell of the building, the ceiling, the roof, the external floors.

Cecille Weldon: All of those pieces in there, and a lot of it's made on assumptions, obviously, that will generate the star rating.

Cecille Weldon: Yeah, and then you can see how many kilowatts of solar the property generates. So that's…

Cecille Weldon: What is currently planned is the score that will be showed on the property listing is the number out of 100.

Cecille Weldon: The home energy rating, because that's how everything comes together. The shell, the thermal shell of the building, as well as the appliance energy use, and the energy generation.

Cecille Weldon: So what we're looking at is introducing a new narrative, a new number language into the point of sale rent around

Cecille Weldon: A number out of 100. Now, interestingly, Nick, you can have a positive house, a carbon-positive house, an energy-positive house, which means you can theoretically get 150 out of 100.

Cecille Weldon: Now, the PropTech Association with our Energy Efficiency Feature Standard has been very successful in saying, well, that just doesn't make any sense, and that's going to be confusing. So, the government has agreed that anything over 101, we will default as 101 plus.

Cecille Weldon: So that means the plus sign obviously means positive, and it's clear that that property is generating more energy than it needs. So this is where our advocacy has been

Cecille Weldon: Really towards ridiculously common sense, actually, when it comes down to it. That's the front of the certificate. The very interesting part is the back.

Cecille Weldon: And that's the upgrade guidance. Now, currently, or the first

Cecille Weldon: Iteration of this when it hits, the regulatory framework, is going to be generalised based on the climate zone that the property's in. But as the scheme develops and matures, it will be customized to that particular property.

Cecille Weldon: And that particular climate zone. So you can see here you've got Climate Zone 6, which is mild temperate. It talks about what building upgrades you could be doing to get you a higher star.

Cecille Weldon: And then it's got energy saving tips, etc. So, what's important to understand for everybody is

Cecille Weldon: The Energy Rating Certificate, the purpose of this.

Cecille Weldon: Is not to, if you like.

Cecille Weldon: Create some sort of a measure of value.

Cecille Weldon: Around whether you have a high or low rating. It's actually to get you to upgrade. So it's to create a baseline piece of intelligence and data about your particular property that is probably not telling you anything new, because you know it's been very expensive to run and very uncomfortable.

Cecille Weldon: That will enable you to know, this is where we are now, and this is where I need to go. So, what's important is the whole of Australia's going to be getting at the same time, so everybody's probably going to have less than optimal experience.

Cecille Weldon: So, there's the opportunity to say, what's a suburb average? You might be above the suburb average, or you might be bang on the suburb average. So, I think the important thing to know is this wonderful phrase, we're all in this together.

Cecille Weldon: And it's important that that narrative goes out while the scheme starts to mature and the financial markets start to understand how that's going to impact perceptions of value as well as formal valuation.

Cecille Weldon: So, currently, there's an.

Kylie Davis: Cecilia, just a quick question on that. If it's 100 plus, wouldn't the… wouldn't spelling out the 100 plus question from David Perry be really handy to know if you had a surplus for an EV or two?

Cecille Weldon: No, no, it will be on the certificate.

Cecille Weldon: Granular detail will be on the certificate itself, but not the number in the property listing. Currently, with the ACT, there's an EER of 6 or 5 or 4, there's just a simple number, and then you can link through to the actual certificate itself. But the actual certificate will be available.

Cecille Weldon: Now, some portals may choose to have a download where that PDF comes up in the property listing, or there's a QR code where they can go directly to that certificate.

Cecille Weldon: But we can't put all this information on a property listing that has very limited space for a features-based approach.

Cecille Weldon: So the number's there, but the granular detail for everyone is on that, on that detail, on that certificate.

Kylie Davis: Now, the software itself, remember, NAT is for existing homes.

Cecille Weldon: That software is done, is now… is currently being pressure tested.

Cecille Weldon: So, the financial sector and valuation sector are pressure testing the software to see how it stands up and how it will go for scale. And that enables it to be refined and fine-tuned, which is very important.

Cecille Weldon: Close to 800 assessments of homes have now been completed. It's in partnership with the government and the CSIRO.

Cecille Weldon: Now, interestingly, and I know everyone's gonna go.

Cecille Weldon: Completely nerd out on me with this, but anyway, there's two streams that are being trialled in terms of this software. One is a core stream, where a trained NATIS assessor completes all of the elements of the assessment.

Cecille Weldon: By collecting data in the home.

Cecille Weldon: Using a trial assessment tool to produce a home energy rating and a trial certificate. The other is called the scale stream.

Cecille Weldon: And this is where banks have partnered with the valuation sector. So this is where a property valuer collects the data in the home, and then that's sent to a NATA's assessor who works off-site and produces the home energy rating and the trial certificate.

Cecille Weldon: So they're two different sort of delivery methods. One is in-home, and one is using another person, right? Another property professional. And there is scope for a real estate agent who's trained, for instance, to do that.

Cecille Weldon: Both streams are using mobile devices with light detection and raging LiDAR technology to collect data in the home, and a cloud-based energy rating tool developed by CSRO called Accurate Enterprise to collect the NATA's assessor.

Cecille Weldon: Now, it would make sense to just do the scale stream, where, you know, some sort of partner in the property sector delivers it, and then it's qualified. In order to meet the robust regulatory requirements of the government.

Cecille Weldon: They're a little nervous about the scale stream until they know it can really deliver, under pressure, the sort of quality of ratings that are needed at point of sale or rent, because the moment of

Cecille Weldon: per transaction is incredibly important. So, currently, the plan is still to have it delivered by a, qualified assessor in an in-home experience.

Kylie Davis: So, Cecile, does this mean that there's going to be, like, at the moment when you're selling a property, you, or if you're buying a property, you would normally buy a building inspection, or a, you know, building and pest? Yes, this is going to be…

Kylie Davis: You'll need to do something like that, yep.

Cecille Weldon: Interestingly, in New South Wales and most jurisdictions apart from the ACT, normally it's a potential buyer that does the

Cecille Weldon: pays for the building inspection, or it might be before you buy and shared with everybody. In the ACT, the vendor has to do all the inspections.

Cecille Weldon: And that includes an energy rating. In this scenario, nationally, the vendor is paying for the home energy rating.

Cecille Weldon: Okay, so that is the process, and it's just booked before it can be marketed. You must have the energy rating completed. So, just basically, the granular part of this is the more energy efficiency features, the more comfortable the home, the higher the home energy rating.

Cecille Weldon: So, that's why the wholesale upgrade of Australia's housing stock is going to happen, and we're going to end up with better properties as a result of that, because we've never had this lens on property, we've only been looking at the look.

Cecille Weldon: and the feel of the… the look of the property has been the transaction. The sort of bring in the furniture and make it look cool.

Cecille Weldon: Okay, this is going to be a much deeper lens, and there's going to be no hiding. So the more we can get people to upgrade in the next 3 years, before regulation is national, 3 to 5 years, the better everyone will be.

Cecille Weldon: So, features and ratings work…

Kylie Davis: Quick question, so, course Dream Assessor's going to be checking, like, roof spaces, like a building inspector would?

Cecille Weldon: The core stream.

Kylie Davis: Actually, I'll unpack insulation in particular when I get further down, but… Sure, spoilers.

Cecille Weldon: they're not going to be getting up in the roof. There's a number, because it's modeling, there's a number of assumptions that are made about the age of the home and all sorts of different things around that. But I will talk to you about insulation, what we've done that is going to benefit assessors as well.

Cecille Weldon: So, features and ratings work better together.

Cecille Weldon: this is the phrase that everyone knows I love, delivering homes and apartments that are healthier, more efficient, and more comfortable all year round with reduced running costs, that are more resilient, more attractive to the market, and less risk for the owner, lender, and insurer, and less impact on the planet. So, features…

Cecille Weldon: We'll deliver the home energy rating, which will help you know how to upgrade, and you upgrade with features.

Cecille Weldon: Okay, so features and ratings are best friends. They work better together, and what we have a chance to do is create the right baseline of features to get everyone in the game early.

Cecille Weldon: So this is where it comes to what I'm very personally proud of, and, proud of the PropTech Association's leadership in this space, because we've done all the work for you. Honestly, I cannot say it enough.

Cecille Weldon: We've, developed a PropTech energy efficiency data standard that you can just bring in to your PropTech, and that is robust. I'm going to talk you through, that's now been developed and is now ready for sharing with Signetry, so I'd encourage everyone to sign up that has any residential

Cecille Weldon: property, Attributes in their tech.

Cecille Weldon: So, it's an Australian first, it's actually, we've been told, a world first, but let's stick with an Australian first industry-led energy efficiency data standard for residential property.

Cecille Weldon: considered by government and key pig bodies to be a key market enablement, so much so that I was asked to present to the reading committee, and got what is the equivalent to a standing ovation, so many claps, in the group, everyone was blown out of the water.

Cecille Weldon: This has been developed to fast track your opportunities and get you in the game and get you regulation ready. It's already packaged. It's robust and respected from all sectors of this

Cecille Weldon: Of this property knowledge.

Cecille Weldon: I'm just going to say our advisory committee that I worked with on this represents

Cecille Weldon: the best of the best. You've got CSRO, Alan Pearce is the godfather of energy efficiency. Jodie Pipcorn's on the government's disclosure framework, which we've got Energy Consumers Australia to ensure that we are

Cecille Weldon: Supporting energy equity with our features. Jacob Cain, we've got your customers represented here as well. People that are either principals or real estate institute, and have actually worked with these features on the ground, and know how easy it is to operationalise or not.

Cecille Weldon: And we've also got Leanne Habib representing the Strata

Cecille Weldon: challenges that people have in upgrading. So, we had the most incredibly robust, development conversations in the pathway to getting this list to you, and so

Cecille Weldon: I know that it delivers the very strong pathways to all of the opportunities that are lying there, and because of the research and governance sectors in this advisory group, we know that it aligns with everything that's coming as well.

Cecille Weldon: This is a QR code. There's a dedicated website for this, because it is a standard, and under the ACCC, if you're going to create an industry-led standard, while the ACCC doesn't care what it is, you have to do it properly.

Cecille Weldon: The byline for this is identifying better homes better.

Cecille Weldon: So this is a key set of energy efficiency property attributes that we integrate across all our prop tech platforms and solutions. That enables a trusted set of energy efficiency features to be identified, verified, and showcased across the residential property experience.

Cecille Weldon: These new data sets magnify opportunities across all your verticals and ensure you are regulation ready.

Cecille Weldon: I know this is text-heavy, but it's important that I say that by standardising energy efficiency features, we win on so many levels, and then you can nuance your competitive advantage by the way you bring these to life.

Cecille Weldon: Visibility equals value, and currently these features are not visible, either in the property listing experience or the agent view within your CRMs, inspection, maintenance, prop tech, all of them.

Cecille Weldon: We need to drive energy efficiency literacy, because we, as a sector, have become a barrier to identifying better homes better, and to people understanding what to ask for.

Cecille Weldon: We need to enable regulation-ready platforms for disclosure, so that we're all ready, whether it's rental standards or at point-of-sale or rent. We need to stimulate better quality data collection. We need to get better at verifying a feature, apart from just the look of it.

Cecille Weldon: And certainly AI is going to help there. We need to redirect the property capitalisation narrative in the right direction for where the new value frameworks are lying, align with the new financial loan products which are coming down the line thick and fast, underpinned by money from the clean energy

Cecille Weldon: clean energy regulation… oh, can't remember the name of it now, that's not the right name. Anyway, we need to serve the property data market because the new… these new data sets are the most commercially valuable data sets to ever hit the sector. Support new formal valuation frameworks to, align with the valuation sector's move as well. Support the pivot in rental maintenance to rental

Cecille Weldon: upgrade.

Cecille Weldon: Every time, with our prop tech, an agent, a real estate professional, seeks to maintain that property, we have to encourage them to make it better, not just maintain the status quo. Otherwise, that property will be left in the shallows.

Cecille Weldon: Catalyze the micro upgrade, because you can just do one feature at a time, which is beautiful for the property upgrade moment. And some property techs are providing, you know, financial leverage by looking at future rental return and being able to upgrade a property. There's all sorts of really exciting ways that we can

Cecille Weldon: integrate fintech and prop tech into these opportunities. We need to align features… it gets us to align features within and across tech stacks, so that we can path data.

Cecille Weldon: will…

Cecille Weldon: back and forward because of the naming protocols we're using. It provides a skills framework, because I cannot underpin more, because I'm in the space as well, how little agents know, how little executive leadership teams of every real estate franchise in the country know about this aspect of property.

Cecille Weldon: Knowledge.

Cecille Weldon: It enables new in-app learning experiences. I'm very excited about this, the entrepreneur in me, how to make people even more sticky.

Cecille Weldon: By providing in-app prompts where they're learning on the go, and you're not requiring such a formal learning experience. And to be honest, we need to provide energy efficiency literacy to AI models, because if you're playing with that space now, it's going to deliver you the same mess of the current status quo, and not the beautiful, clean set that we're delivering.

Cecille Weldon: And what do I mean by that? Rea Group PropTrack participated in groundbreaking research with the CSIRO, a year's worth of listing data, and what it showed was that

Cecille Weldon: all of the way across everyone, we're fragmented and messy in terms of energy efficiency, features.

Cecille Weldon: Which means… and this is accidental, right, because this area of property knowledge has been stuck in the sustainability space and has been hard for us to make sense of, in terms of how it benefits the owner-occupant, in terms of running cost and comfort. So, it's nobody's fault, it's just very complex information. And so, we've been… we have been hindering

Cecille Weldon: consumers from building literacy and finding the right properties, and from searching, because of cost of living concerns, everyone's wanting to know more about this in property, and our agent customers

Cecille Weldon: have, have known so little about property right now, that if we had rate my agent based on an agent's property knowledge, I can't imagine anyone doing very well.

Cecille Weldon: The most important thing about this study is it says it would be beneficial to standardise how energy efficiency information is provided in property listings.

Cecille Weldon: It's imperative that real estate professionals use the property attribute list when including information about a property on any platform, okay? CRM or otherwise. Rather than just putting a big blob of text generated by AI, really identifying the key feature

Cecille Weldon: That matters in energy efficiency, and being able to bring that all the way to the top and showcase that connects that to the real uplift in value opportunity.

Cecille Weldon: So, what this is saying is we need to create an energy efficiency feature standard, and we already have. So, what's important to know is our standard is based on a research-validated need for all of us to clean up our back end, refine and align for the whole new world that's about to come.

Cecille Weldon: Now, very quickly, I've got hardly any time. The New South Wales Real Estate and PropTech trials are going on. What's important for you to know

Cecille Weldon: is that there are three phases to this pilot, and the New South Wales pilots, you may have been contacted by the New South Wales government to participate in these, you need to understand that these are testing assumptions in the national document.

Cecille Weldon: So all the results of this will go back to the national project, okay? It's going to be preparation. How can we get real estate agents prepared for disclosure, ensure they have the right information and resources.

Cecille Weldon: To be able to operationalise it. How can we get it… how can we focus on market enablement to bring awareness into our industry and understand about home energy ratings and consumer participation?

Cecille Weldon: The real estate sector is already… it's already underway. They've been developing… the New South Wales Government has developed, tested, and refined the first generation of white-label training content, and I've participated in some of those pilots with the real estate sector. Sales agents.

Cecille Weldon: Property managers, as well as the peak body. That training of a cohort of real estate agents will become a pool. Each one of those will get 10 free assessments to offer each of their clients.

Cecille Weldon: And they'll be able to take it for a trial run. Well, they'll be able… if the client wants to, it can be displayed on… in marketing material.

Cecille Weldon: Okay, so this is a pressure testing, how we operationalise it, back on those early focus groups from last year's PropTech Forum.

Cecille Weldon: As well as real estate agent engagements that said, this is what we all want.

Cecille Weldon: Last slide. This is the journey.

Cecille Weldon: We've got NATA's Stage 1 release, the software, that's already happened. There's the New South Wales trial launch for the real estate sector. Then you've got how to review and grow the market. This is in terms of New South Wales, who are the first ones that are going to mandate it.

Cecille Weldon: Okay? Then you've got the Stage 2 launch, mid-2026, and then it's going to transition to mandatory disclosure in New South Wales.

Cecille Weldon: Okay? So that enables a very real and robust piloting to pressure test everything in the framework to enable all of the other states and territories to get the benefit of what New South Wales is doing.

Cecille Weldon: I'm just gonna stop sharing now.

Cecille Weldon: Is everybody on board? I don't know.

Kylie Davis: Awesome.

Cecille Weldon: Too much.

Kylie Davis: No, no. So, look, we do have a couple of questions, Cecile. So, just going back to the… and apologies, I've realized I've had my screen open with some emails, so apologies for that. I hope that one was… found that interesting.

Kylie Davis: So going back to the apartment stuff.

Cecille Weldon: Yeah.

Kylie Davis: What you mentioned, that 60% of energy is used in the common area. Is there a source for that, or where did.

Cecille Weldon: Yeah, that's… I could send that… that's a piece of research done, in Sydney, actually.

Cecille Weldon: And it was incredibly interesting, so happy to send that through. That was… and obviously, this is the larger the scale apartment, when you've got lifts, you've got HVAC, air conditioning, you've got parking lighting. That's why the scale of the apartment is only when you need to use this NATIS, because for low-rise, if it's a walk-up, it won't make any difference.

Kylie Davis: Got it, got it. And so, does NADAS consider energy consumption via solar panels? Is it sort of taking that into account, or is it…

Cecille Weldon: It's modeling the energy generation.

Cecille Weldon: and the appliance demand on that energy generation. And remember, it's modeling, so what's important in the narrative is that we say it's the potential energy efficiency, energy performance of that property, because it depends on how you use the house.

Cecille Weldon: I can have double glazed windows, but if I leave them open all winter, it's going to make no benefit. So we're selling an empty house.

Cecille Weldon: So, it's not user… it's not based on user, you know, builds of the occupant before, because we may use a house completely different. What it's saying is, you have everything you need.

Cecille Weldon: To reach… have a more comfortable house that's cheaper to run.

Kylie Davis: Cool, awesome. And so, one… someone else, Chris Waterman's identified, look, there's only 765 NATO's accredited assessors currently in Australia.

Kylie Davis: Obviously, if every property that goes on the market is going… and understanding's going to get rolled out state by state. So, but if everyone's going to get required an assessment, how is that going to work and scale?

Cecille Weldon: So, that's why, we'll look hold this space, but valuers are now upskilling as assessors.

Cecille Weldon: And so, part of the scope of work, and there is a document on my Future Agent website where you can see futureagent.com.au, all key documents, the release, I just bang up there for everyone, as well as grants and rebates and rental standards, anything. But there is a document there about the software itself, so Chris, if you want to go in and have a look at that, you can see how they're going to deliver at scale the skills uplift that's needed.

Cecille Weldon: Okay, so remember, New South Wales, it's going to be a phased approach across the company… country, and that enables everyone to get up to speed and refine, but also, I dare say, it enables the, the second approach.

Cecille Weldon: using another property professional to become more and more refined. So I think, in the end, it may be both, but it's important to know that it will be the same software.

Cecille Weldon: It will be the same symbols that are needed, and it will need energy efficiency features. Do you see what I mean? That's why the features, you act now, you don't try and second-guess regulation, but you know it's on that same direction.

Kylie Davis: Yeah, got it.

Cecille Weldon: Opportunity for partnership and delivery partners, Chris, in terms of that, you guys will be the first to know. At the moment, CSI are working on ethics and also privacy concerns around

Cecille Weldon: How that gets delivered.

Kylie Davis: Yeah, I guess I'm a big step forward.

Kylie Davis: For those who are not aware, but, property valuers are actually, university educated and have, like, professional standards where they actually have to stay, you know.

Kylie Davis: CPD, but a little bit more seriously than real estate agents are, so I guess the consistency and the level of execution is slightly higher there.

Cecille Weldon: So it's… and also the, you know, valuers are talking when you're trying to get a loan of credit, when you're wanting money, it's not at the moment of sale, so it's a different moment. It's not the perception of value, it's the formal valuation, so it's a different… it's a different moment.

Kylie Davis: Yeah, okay. So, a question from Jordan, Keg, and Gesheit. If you feel your company can assist in the trials, who can we approach? If you want to be… if a prop tech wants to participate in any trials, what do they have to do, or who can they reach out to?

Cecille Weldon: I think they're all pretty locked in. What they're looking at is the really large listing portals, and I think RealEstate.com and Domain are already participating in that trial, because it's a short sprint with trained agents and a few assessments. It's not… they've got very time-sensitive, but as things expand, you guys will be the first to know, and often.

Cecille Weldon: I will reach out and say, if… are you interested in this? Or you will see an EDM that has my content in it saying, reach out, right? So,

Cecille Weldon: But noted, and I'll swing back to everyone if there is any further opportunities.

Kylie Davis: Awesome. I think what's really interesting about this thing is that the…

Kylie Davis: the role of… we all know… look, we all know as prop techs that garbage in, garbage out when it comes to data, right? And so many prop techs at the moment spend so much time, resource, energy, and people power on, or AI power.

Kylie Davis: Cleaning up data so that they can get their data to a point where they can then work with it to do their thing. I think it's extraordinarily exciting for us as an industry to have a consistent data set from day one, if we all commit to it.

Kylie Davis: I would hate to see industry think… individuals in industry thinking, oh, but

Kylie Davis: We're gonna do it differently, because that'll give us a differentiation. Like, no, no, keep to the consistent data set, and then let your products and your execution on that data be the thing that shines.

Cecille Weldon: Don't try to…

Cecille Weldon: picking up that on, the research from consumers say, we want you all to agree. We're tired of the competitive narrative, because we don't know where we are. So when we show agreement, but then we bring it to life, whether it's a pre-appraisal checklist, or whether it's a beautiful customer experience, or, you know, it's a way… The important thing is, when you sign up, and you receive the data set, the data set has

Cecille Weldon: a whole line of different verification opportunities for you, up to highly verified data. Okay? And remember, it's simple in that, can I see it, and identify it, and verify it? I don't know if we've got enough time, but the only one you can't see is insulation.

Cecille Weldon: And we have been working, but it's incredibly important to NATA's assessors.

Cecille Weldon: As well as, as well as us, in terms of prop tech. So, we've been working with ICANNS, a peak body, and the new insulation peak body, and we've developed an insulation condition report.

Cecille Weldon: And there's going to be a new training pathway for insulation installers to be able to identify with the building inspection, or for building inspectors to be upgraded, because currently a building inspection does not cover insulation.

Cecille Weldon: So, as an industry, we've now closed that gap, right? So, the peak body is… you know, an insulation condition report is, like, we're levering things to our advantage, but also to everyone's advantage in the ecosystem.

Kylie Davis: Awesome. Now, look, I'm really mindful of the time.

Cecille Weldon: Yeah.

Kylie Davis: Are having to jump off the call. Simon, Simon from Larky, and I know, Simon, your particular prop tech does stuff to an extraordinary degree, down to, you know, millimeters, but, are they looking at trialling other types of capture, not just the low-accuracy phone LiDAR?

Cecille Weldon: Yes, yes, and yes, and there's a lot going on. I think Simon, I intro'd you into the CSIRO sandbox around this, so if you want intros into CSIRO,

Cecille Weldon: There's all sorts… you know, currently people are using Magic… CSIRO's enabled Magic Plan with NATIS for the valuation industry. There's nothing to stop them.

Cecille Weldon: from helping somebody else to do the same, in terms of testing and piloting, that integration. So, if you want an introduction, I've been introducing members since I first started here into that CSIRO opportunity.

Cecille Weldon: Yeah, but there's a lot going on in terms of this space. But don't… what I would say is don't go so granular that you jump the gun too, because the biggest game in town is the simplest, and I know that doesn't make sense to everyone, but actually making sure everyone has the same set of features across everyone's tech.

Cecille Weldon: Will actually activate more opportunities than one partner going granular. And the big game in town is everyone coalescing as a group, and I know Chris is doing that with the other people in

Cecille Weldon: If you are working in a partnership group with other prop techs that are delivering add-on benefits and data flows to you, work together to integrate the energy efficiency feature standard. The people that are doing that are way ahead of everyone else.

Kylie Davis: Yeah, awesome. And, I think we want to encourage everyone to sign up to the property feature.

Cecille Weldon: Understand it?

Kylie Davis: Cecile, what was the email address again, or what was the URL again?

Cecille Weldon: PropTechFeuturesStandard.au.

Cecille Weldon: There's a place where you sign up. As soon as you sign up, you get the feature set.

Cecille Weldon: The first one is an integrated data set of climate zone and postcode, climate pattern and postcode, and the next is a whole big spreadsheet. And there are APIs available to also feed in an energy rating of an appliance.

Kylie Davis: So, if you want to, get access to… if you want to see what these new features… sorry, what this new data looks like, and you want to start to get… get, you know, your hands dirty around the data, sign up to the features standard. It is free to do.

Kylie Davis: It will give you first access to the new features as they become available. You'll be able to then start incorporating them into your own businesses and iterating off that. Cecilia's done an enormous amount of work in this space, and we're very grateful to her… to her and for her leadership in the sector.

Kylie Davis: So, thank yous, but yes, so the more people that we have signed up to the feature standard… PropTech Feature Standard 2, the more we can demonstrate to government our ability to support and enable the change in this space, because there is so much opportunity

Kylie Davis: that is going to come out of it, both from supporting consumers, supporting valuers, supporting agents, supporting, property managers. We are going to see a whole raft of new businesses emerge out of this, out of this data.

Kylie Davis: And out of the opportunities that it opens up, and we're going to see existing businesses, you know, kind of blossom and grow in whole new, exciting ways.

Kylie Davis: But also our sector is going to… you know, the sectors that we serve are going to… it is an amazing test case for how prop tech can actually, if we coalesce around a common theme.

Kylie Davis: Can actually make life easier, not just give our clients more choice and then make it all more confusing for them. So, so really encourage everyone to sign up.

Kylie Davis: Very mindful of the time, Cecile. Thank you so much for your.

Cecille Weldon: Networks.

Kylie Davis: Excellent work in this sector. We will be sharing out the video, we will be sharing out the… share out your deck. Are you able to make that available? We'll share the deck so that if you've been on this, call, you'll be able to get that if you remember. And,

Kylie Davis: Thank you so much, everyone, for joining us. We… there will be more updates. I think this is going to be semi-regular for us as things change, so that we can all stay on top of it.

Kylie Davis: And don't forget, everybody, PropTech Forum, November 15, down in Melbourne this year, so if you're a Melbourne PropTech, please, grab your ticket, sign up, we're still… we will have some speakers out by the end of the week.

Kylie Davis: Really looking forward to a great day, 15th of November, Friday 15th of November, plus, satellite events and a PropTech pitch night in the pub on the Thursday.

Kylie Davis: So, jump online, grab your tickets.

Kylie Davis: Thanks, everybody, great to see you.

Cecille Weldon: Take care. Thanks. Bye.